The two U.S. Senators said the downfall of FTX clearly exemplified “the need for greater federal oversight of the digital asset industry.”
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US senators commit to advancing crypto bill despite FTX collapse
The two U.S. Senators said the downfall of FTX clearly exemplified “the need for greater federal oversight of the digital asset industry.”
Tron-based tokens sell at 1200% premium as FTX users scramble to withdraw
The JST token in particular is trading for a premium of around 1,200%, while BTT and TRX have inflated at least 500% apiece.
Cathie Wood's ARK adds $12.1M in Coinbase shares amid turbulent markets
Ark Investments topped up its Coinbase stock shortly after FTX's liquidity issues were revealed, which came after Coinbase stated that it had “minimal exposure” to the troubled trading platform.
Breaking: Bahamas securities regulator freezes FTX assets
The Bahamas Securities Commission said FTX's assets could not be moved without the approval of a Supreme Court-appointed liquidator.
Chainlink Labs offers Proof of Reserve service for embattled exchanges
The company claimed its PoR product can restore trust in crypto exchanges through greater transparency, but not everyone is convinced.
White House says 'prudent regulation of cryptocurrencies' is needed, hinting at situation with FTX
According to Press Secretary Karine Jean-Pierre, the administration and financial agencies will “closely monitor” developments in the crypto market.
FTX turmoil increases scrutiny of industry, something institutional investors have been waiting for
Hedge funds and asset managers are deploying digital asset teams, but lack of regulatory clarity is holding them back.
FTX US announces it may halt trading on its platform in a few days
According to the FTX US, “Withdrawals are and will remain open.”
Financial group CEO claims he tried to warn Bankman-Fried about insolvency in July
Richard Handler alleged that he offered restructuring services to FTX that might have saved it, but exchange reps refused to meet with him.
Bitcoin options data shows sub-$17K BTC price gives bears a $200M payday on Friday
BTC bears are set to profit from this week's $710 million options expiry, which could be used to add further sell pressure to Bitcoin price.
Bitcoin options data shows sub-$17K BTC price gives bears a $200M payday on Friday
Bitcoin (BTC) crashed below $16,000 on Nov. 9, driving the price to its lowest level in two years. The 2-day correction totaled a 27% downtrend and wiped out $352 million worth of leverage long (buy) futures contracts.
To date, Bitcoin price is 65% down for 2022, but it's essential to compare its price action against the world's biggest tech companies. For instance, Meta Platforms (META) is down 70% year-to-date, and Snap Inc. (SNAP) has dropped 80%. Furthermore, CloudFare (NET) lost 71% in 2022, followed by Roblox Corporation (RBLX) and Snapchat (SNAP), both down 70%.
Inflationary pressure and fear of a global recession have driven investors away from riskier assets. This protective movement has caused the U.S. Treasuries' 5-year yield to reach 4.33% earlier in November, its highest level in 15 years. Investors demand a higher premium to hold government debt, signaling a lack of confidence in the Central Bank's ability to curb inflation.
Contagion risks from FTX and Alameda Research's insolvency are the most pressing issues. The trading group managed multiple cryptocurrency project funds and was the second-largest trading exchange for Bitcoin derivatives.
Bulls were overly optimistic and will suffer the consequences
The open interest for the Nov. 11 options expiry is $710 million, but the actual figure will be lower since bulls were ill-prepared for prices below $19,000. These traders were overconfident after Bitcoin sustained above $20,000 for almost two weeks.
New tool mirrors Optimism NFTs to Ethereum mainnet for use in verified apps
NFTs from Layer 2 were not previously recognizable to apps like Twitter.
New tool mirrors Optimism NFTs to Ethereum mainnet for use in verified apps
NFTs from Layer 2 were not previously recognizable to apps like Twitter.
LayerZero Labs bought back its stake from FTX Ventures and Alameda
The protocol announced an agreement that bought out 100% of FTX Ventures and Alameda Research's equity position.
FTX US resigns from the Crypto Council for Innovation
“The news this week has been shocking, but we’ve also seen the community come together," said CCI CEO Sheila Warren.
Republican lawmaker claims SEC chair was coordinating with FTX 'to obtain regulatory monopoly'
Minnesota Representative Tom Emmer did not provide any evidence to his claim Gary Gensler was "helping SBF and FTX work on legal loopholes," but said he was looking into the matter.
The Clearing House stands up for bank rights, opposes CBDC in comments for US Treasury
The payments operator responded to a Treasury inquiry related to the presidential executive order with an appeal to keep bank interests in sight when designing digital assets.
‘Thank God’ El Salvador doesn’t have any Bitcoin on FTX, CZ clarifies
The Binance CEO added that the amount of misinformation going around now is “insane.”
US lawmaker warns of 'major consequences' for users of unregulated crypto firms, citing FTX
"FTX’s FTT tokens are now worthless, and even worse, FTX.com customers are completely unable to access their funds,” said Maxine Waters.